Oregon Public Employees Retirement Fund Sells 1,474 Shares of MGIC Investment Co. (NYSE:MTG)

Oregon Public Employees Retirement Fund cut its stake in MGIC Investment Co. (NYSE:MTG – Get Rating) by 1.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 88,626 shares of the insurance provider’s stock after selling 1,474 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in MGIC Investment were worth $1,136,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Lazard Asset Management LLC bought a new stake in shares of MGIC Investment in the first quarter worth approximately $26,000. Wipfli Financial Advisors LLC purchased a new position in shares of MGIC Investment in the third quarter worth approximately $62,000. M&T Bank Corp purchased a new position in shares of MGIC Investment in the second quarter worth approximately $76,000. Janiczek Wealth Management LLC boosted its holdings in shares of MGIC Investment by 71.5% in the third quarter. Janiczek Wealth Management LLC now owns 8,374 shares of the insurance provider’s stock worth $105,000 after buying an additional 3,491 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC purchased a new position in shares of MGIC Investment in the second quarter worth approximately $112,000. 96.95% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

MTG has been the topic of a number of research reports. Barclays downgraded shares of MGIC Investment from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $16.00 to $14.00 in a report on Friday, January 6th. Compass Point downgraded shares of MGIC Investment from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $19.00 to $14.50 in a report on Tuesday, November 8th. StockNews.com started coverage on shares of MGIC Investment in a report on Wednesday, October 12th. They issued a “buy” rating on the stock. Finally, Credit Suisse Group lowered their price target on shares of MGIC Investment to $15.00 in a report on Thursday, October 13th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $15.75.

MGIC Investment Price Performance

Shares of NYSE:MTG opened at $13.72 on Monday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.50 and a quick ratio of 0.50. MGIC Investment Co. has a 1-year low of $11.38 and a 1-year high of $16.41. The company has a market capitalization of $4.08 billion, a P/E ratio of 5.14, a P/E/G ratio of 1.20 and a beta of 1.36. The firm’s 50 day simple moving average is $13.16 and its two-hundred day simple moving average is $13.55.

MGIC Investment (NYSE:MTG – Get Rating) last released its quarterly earnings data on Wednesday, November 2nd. The insurance provider reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.31. The firm had revenue of $296.06 million for the quarter, compared to analysts’ expectations of $322.19 million. MGIC Investment had a net margin of 72.18% and a return on equity of 19.66%. Research analysts expect that MGIC Investment Co. will post 2.86 EPS for the current fiscal year.

MGIC Investment Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 23rd. Stockholders of record on Thursday, November 10th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.92%. The ex-dividend date of this dividend was Wednesday, November 9th. MGIC Investment’s payout ratio is currently 14.98%.

About MGIC Investment

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MGIC Investment Corp. is a private mortgage insurer that serves lenders throughout the United States, and Puerto Rico. It also provides lenders with underwriting and other services and products related to home mortgage lending through its subsidiaries, such as Mortgage Guaranty Insurance Corp. and MGIC Indemnity Corp.